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NYC Deputy Mayor on Jobs, Taxes, Grocery Stores

Bloomberg Markets
Friday, August 7, 2026 at 7:06 PM
~4 min read
Labor Market

Original Report

Julie Su, New York City deputy mayor for economic justice, talks about creating jobs, a new business advisory council, city-run grocery stores and Mayor Zohran Mamdani’s new pied-à-terre tax on...

Julie Su, New York City deputy mayor for economic justice, talks about creating jobs, a new business advisory council, city-run grocery stores and Mayor Zohran Mamdani’s new pied-à-terre tax on second homes. More than 31,000 property owners may get a new bill in the mail. She speaks to Bloomberg's Romaine Bostick. (Source: Bloomberg)

Glass House Analysis

Labor market conditions shape the lived experience of millions of working families. When jobs are plentiful, workers have leverage to demand better wages and conditions; when they're scarce, the balance of power shifts to employers. This dynamic plays out daily in kitchen tables across America, where families make decisions about whether to ask for a raise, change jobs, or accept less-than-ideal conditions out of necessity.

Housing sits at the intersection of economic policy and the American Dream. For most families, their home represents their largest asset and their primary path to building generational wealth. When housing becomes unaffordable, the social fabric frays—young people delay family formation, workers can't relocate for better jobs, and communities lose the stability that comes from homeownership.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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